The latest version of HAMP, or the Home Affordable Mortgage Plan, has acomodations for underwater mortgages to have mortgage principal reduction accounted for. Applications for this program will be processed starting today, Nov. 1, 2010. It is called...
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The latest version of HAMP, or the Home Affordable Mortgage Plan, has acomodations for underwater mortgages to have mortgage principal reduction accounted for. Applications for this program will be processed starting today, Nov. 1, 2010. It is called Principal Reduction Alternative, or PRA. It is even more crucial now that the distressed mortgage owner get the REST Report as an indispensable tool of their mortgage modification application an calculate this option if need be.
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